Huntsman Corporation (HUN) to Issue Quarterly Dividend of $0.13 on September 29th
Huntsman Corporation (NYSE:HUN) announced a quarterly dividend on Monday, August 21st, RTT News reports. Shareholders of record on Friday, September 15th will be paid a dividend of 0.125 per share by the basic materials company on Friday, September 29th. This represents a $0.50 annualized dividend and a yield of 1.80%. The ex-dividend date is Thursday, September 14th.
Huntsman Corporation has a payout ratio of 22.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect Huntsman Corporation to earn $2.04 per share next year, which means the company should continue to be able to cover its $0.50 annual dividend with an expected future payout ratio of 24.5%.
Shares of Huntsman Corporation (HUN) traded down 0.739% during midday trading on Wednesday, reaching $27.545. 1,041,815 shares of the company’s stock traded hands. The stock has a 50-day moving average price of $26.28 and a 200 day moving average price of $24.97. The firm has a market cap of $6.61 billion, a PE ratio of 15.615 and a beta of 2.79. Huntsman Corporation has a 12 month low of $14.16 and a 12 month high of $28.30.
Huntsman Corporation (NYSE:HUN) last issued its quarterly earnings data on Thursday, July 27th. The basic materials company reported $0.85 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.18. The business had revenue of $2.62 billion during the quarter, compared to the consensus estimate of $2.64 billion. Huntsman Corporation had a net margin of 4.33% and a return on equity of 30.04%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.53 EPS. Equities research analysts predict that Huntsman Corporation will post $2.25 earnings per share for the current year.
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A number of research firms have weighed in on HUN. KeyCorp reiterated a “buy” rating and issued a $34.00 target price on shares of Huntsman Corporation in a research note on Friday, September 1st. ValuEngine upgraded shares of Huntsman Corporation from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 1st. BidaskClub upgraded shares of Huntsman Corporation from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Zacks Investment Research upgraded shares of Huntsman Corporation from a “sell” rating to a “hold” rating and set a $29.00 target price on the stock in a research note on Thursday, August 10th. Finally, Alembic Global Advisors set a $28.00 target price on shares of Huntsman Corporation and gave the company a “buy” rating in a research note on Thursday, July 27th. Three research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Huntsman Corporation presently has an average rating of “Buy” and an average target price of $29.00.
In related news, VP Randy W. Wright sold 32,962 shares of the company’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $25.75, for a total transaction of $848,771.50. Following the sale, the vice president now directly owns 69,148 shares in the company, valued at approximately $1,780,561. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Randy W. Wright sold 56,675 shares of the company’s stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $25.76, for a total transaction of $1,459,948.00. Following the sale, the vice president now owns 66,023 shares in the company, valued at $1,700,752.48. The disclosure for this sale can be found here. Corporate insiders own 19.00% of the company’s stock.
An institutional investor recently raised its position in Huntsman Corporation stock. The Manufacturers Life Insurance Company lifted its holdings in shares of Huntsman Corporation (NYSE:HUN) by 9.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,281 shares of the basic materials company’s stock after buying an additional 610 shares during the quarter. The Manufacturers Life Insurance Company ‘s holdings in Huntsman Corporation were worth $188,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 75.89% of the company’s stock.
Huntsman Corporation Company Profile
Huntsman Corporation is a manufacturer of differentiated organic chemical products and of inorganic chemical products. The Company operates all of its businesses through its subsidiary, Huntsman International LLC (Huntsman International). The Company operates through five segments: Polyurethanes, Performance Products, Advanced Materials, Textile Effects, and Pigments and Additives.
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